KYC Refresh (Periodic Review)
Overview
KYC Refresh updates customer data and risk ratings at defined intervals or after trigger events. It reconfirms identity (document validity, address, ownership), re-runs sanctions/PEP/adverse media, and recalibrates limits and monitoring.Cadence is risk-based: high-risk profiles might review every 6–12 months; low-risk less frequently, with event-driven checks on material changes. Effective refresh programs use automation (pre-fill, guided capture, API checks), exception playbooks, and case management for audit trails. They reduce stale data, shrink false positives, and prevent regulatory gaps. Poorly executed refreshes cause customer friction and backlog risk; well-planned ones minimize interrupts by staggering cohorts and using reminders, self-service, and mobile capture.
FAQ
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